Developer, D.C. District Team Up To Build New Elementary School
Washington
The apple of Mary Filardo's eye—besides her three children—is a spanking new elementary school in a wooded neighborhood two miles north of the White House.
Built by an unusual set of partners, the $11 million building could offer a model for other cities that are feeling pressed to keep up with their school facilities needs.
In short, the District of Columbia deeded part of the campus to a developer, which tore down the old school and erected a nine-story, upscale apartment building on its portion of the land. On the other, it built a new school. The developer's profit from the 211 apartments will be used to pay off the bonds used...
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